Auto insurance discounts are not a myth, they exist. Here are eight ways to reduce auto insurance costs, from auto safety devices to safe drivers.

1. TREAT YOURSELF TO THE DISCOUNT ON MULTIPLE POLICIES

The Insurance Information Institute (III) states that many insurers offer multiple insurance discounts to reward customer loyalty. For example, you can get a discount if you have a home or life and auto insurance from the same company. Ask your insurer if they want to “consolidate” their policies and if this would help maximize your savings.

2. BE A SAFE DRIVER

According to the National Association of Insurance Commissioners (NAIC), keeping your car record free from accidents caused by errors or traffic violations can help keep your car insurance premiums low. In fact, the association says that prudent drivers pay lower car insurance rates.

3. FEWER COSTS WITH LESS MILEAGE

Some companies offer discounts to drivers who drive less than the average mileage per year. They may also offer policies where your payments are based on the number of kilometers driven. If you drive less than the average driver, you should consider these types of discounts or policies to save money on insurance costs.

4. IF YOU ARE A STUDENT, KEEP YOUR NOTES

If you keep your grade point average, you can save money. The III says that insurers often offer discounts to young drivers with good ratings. This does not only apply to high school teens. According to NAIC, some insurers also offer discounts for full-time students up to the age of 25.

5. ASK FOR CAR SAFETY FEATURES

Is your car equipped to keep you safe? According to III, many insurers offer discounts for certain safety features, such as airbags or an anti-lock braking system (ABS).

6. INSTALL AN ANTI-THEFT DEVICE

If your car is not equipped with an anti-theft device, consider the advantages of installing an alarm system or a transceiver to recover stolen vehicles. In addition to preventing theft or vandalism, an anti-theft device, according to NAIC, can help you benefit from a discount from certain insurers.

7. INSTALL A TELEMATIC DEVICE

Telematics is a method by which some insurers collect information about their driving habits and offer personalized comments, rewards, or discounts. When you sign up for a telematics program with your insurer, you may be eligible for discounts or auto insurance premiums.

8. RENEW YOUR POLICY EARLY

Do not wait for your auto insurance to expire before switching to another insurer. First of all, it is not a good idea, as it is illegal to do without car insurance (in most states, all drivers must have liability insurance). Second, some insurance companies may offer incentives to new customers who sign a new policy before their previous policy expires. In addition, some insurance companies may offer discounts to policyholders who prepay the full term of their policy instead of paying in installments. .

Do not wait for your auto insurance to expire before switching to another insurer. First of all, it is not a good idea, as it is illegal to do without car insurance (in most states, all drivers must have liability insurance). Second, some insurance companies may offer incentives to new customers who sign a new policy before their previous policy expires. In addition, some insurance companies may offer discounts to policyholders who prepay the full term of their policy instead of paying in installments.